Esta: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Esta
Largest movements
- Receivables within one year -€34,658
down €34,658 (-23.9%), from €145,114 to €110,456
of which Trade receivables: -€31,951
- Tangible fixed assets -€16,402
down €16,402 (-1.7%), from €938,367 to €921,965
of which Land and buildings: -€21,485
- Debts after one year -€98,202
down €98,202 (-11.6%), from €849,243 to €751,041
- Reserves +€40,055
up €40,055 (+49.8%), from €80,365 to €120,420
- Other debts -€21,500
down €21,500 (-32.7%), from €65,650 to €44,150
- Short-term financial debts +€12,633
new in 2025: €12,633
- Gross operating margin -€23,242
down €23,242 (-14.5%), from €160,633 to €137,391
- Depreciation -€9,938
down €9,938 (-30.8%), from €32,228 to €22,290
- Financial charges -€5,883
down €5,883 (-18.6%), from €31,564 to €25,681
- Taxes +€1,802
up €1,802 (+13.6%), from €13,238 to €15,040
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,085,709 | €1,032,421 | -€53,288 | -4.9% |
| Fixed assets | 21/28 | €938,367 | €921,965 | -€16,402 | -1.7% |
| Tangible fixed assets | 22/27 | €938,367 | €921,965 | -€16,402 | -1.7% |
| Land and buildings | 22 | €938,367 | €916,882 | -€21,485 | -2.3% |
| Furniture and vehicles | 24 | - | €5,083 | +€5,083 | |
| Current assets | 29/58 | €147,342 | €110,456 | -€36,886 | -25.0% |
| Amounts receivable within one year | 40/41 | €145,114 | €110,456 | -€34,658 | -23.9% |
| Trade receivables | 40 | €142,407 | €110,456 | -€31,951 | -22.4% |
| Other amounts receivable | 41 | €2,707 | - | -€2,707 | |
| Cash at bank and in hand | 54/58 | €2,228 | - | -€2,228 | |
| Total equity and liabilities | 10/49 | €1,085,709 | €1,032,421 | -€53,288 | -4.9% |
| Equity | 10/15 | €98,965 | €139,020 | +€40,055 | +40.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,365 | €120,420 | +€40,055 | +49.8% |
| Distributable reserves | 133 | €80,365 | €120,420 | +€40,055 | +49.8% |
| Amounts payable | 17/49 | €986,744 | €893,401 | -€93,343 | -9.5% |
| Amounts payable after more than one year | 17 | €849,243 | €751,041 | -€98,202 | -11.6% |
| Financial debts | 170/4 | €849,243 | €751,041 | -€98,202 | -11.6% |
| Amounts payable within one year | 42/48 | €137,435 | €141,991 | +€4,556 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €57,682 | €59,870 | +€2,188 | +3.8% |
| Financial debts | 43 | - | €12,633 | +€12,633 | |
| Credit institutions | 430/8 | - | €12,633 | +€12,633 | |
| Trade debts | 44 | €857 | €1,973 | +€1,116 | +130% |
| Suppliers | 440/4 | €857 | €1,973 | +€1,116 | +130% |
| Taxes, remuneration and social security | 45 | €13,246 | €23,365 | +€10,119 | +76.4% |
| Taxes | 450/3 | €13,246 | €23,365 | +€10,119 | +76.4% |
| Other amounts payable | 47/48 | €65,650 | €44,150 | -€21,500 | -32.7% |
| Accrued charges and deferred income | 492/3 | €66 | €369 | +€303 | +459% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,228 | €22,290 | -€9,938 | -30.8% |
| Other operating charges | 640/8 | €6,482 | €5,526 | -€956 | -14.7% |
| Gross operating margin | 9900 | €160,633 | €137,391 | -€23,242 | -14.5% |
| Operating profit (loss) | 9901 | €121,923 | €109,575 | -€12,348 | -10.1% |
| Financial charges | 65/66B | €31,564 | €25,681 | -€5,883 | -18.6% |
| Recurring financial charges | 65 | €31,564 | €25,681 | -€5,883 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €90,359 | €83,894 | -€6,465 | -7.2% |
| Income taxes | 67/77 | €13,238 | €15,040 | +€1,802 | +13.6% |
| Profit (loss) for the period | 9904 | €77,121 | €68,854 | -€8,267 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €77,121 | €68,854 | -€8,267 | -10.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.